Polkadot announces parachain launch as DOT price pumps

Next month begins the parachain auction process, which allocates slots for projects to build on the Polkadot cryptocurrency network

Polkadot developers have announced their readiness to deploy parachains on the platform. This will mark the final phase of a multi-stage mainnet launch process that runs from May 26, 2020.

According to the Polkadot Council, the first of the auctions is slated to begin on November 11.

Speaking at the Sub0 conference, the Parity Technologies engineering team behind Polkadot development, as well as project co-founders Gavin Wood and Robert Habermeier, said that all technical barriers to launching parachains have been removed.

The developers recalled that parachains have been successfully operating on the Kusama “canary” network for testing and development since July 2021 with 11 parachain slot auctions taking place there and 12 "parallelized" blockchains functioning.

DOT prices reacted with an increase. At the time of writing, the asset has gained 17% on the day to reach $41.41, according to CoinGecko. At its peak, the rate rose above $43.

DOT has performed well over the past two weeks, increasing by 50%, and is currently 16.5% below its May 15 all-time high of $49.39. However, there is a high probability that the all-time high will be renewed in November.

comments powered by HyperComments

Hot Tweets 🔥